OK all the useless posts in this thread were removed, we can at least try to act like adults.
As for the intakes and hydrolocking the engine, it can and has happened. I myself wasted my motor at 11k with my 99 SH and an Iceman CAI. The water was deep but not nearly as bad as you guys think. The problem was the water was much deeper then it appeared and I went in behind a cargo van. The cargo van made a wake behind him that basically washed up into my front end.
Anyway long story short is IMHO the best thing to do with a CAI is either buy a Iceman or an AEM and cut it. I carry an extra air filter and screwdriver and if I need to or get worried I can switch the intake from long to short in under 5 minutes.
If I had a AEM I'd save the money from the bypass valve and buy another filter and a connector. You can just cut the intake in two and use it like the Iceman.